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Rising Housing Costs in Miami

Posted by Christopher Lazaro on June 23, 2024

Miami is experiencing a housing affordability crisis despite a low unemployment rate. Many residents, like Bárbara Aguilar, are forced to work multiple jobs to cover expenses due to soaring living costs. The median home price has doubled since 2018, making it hard for low-wage workers to find affordable housing. The city's fastest-growing jobs pay $19 or less per hour. Some employers are building worker housing, while others struggle to attract talent due to high housing costs. The influx of wealthy individuals has driven up prices, making it challenging for many residents to stay in Miami.

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